The Monero team tweets that it is possible to buy Monero directly on the Kraken crypto exchange with debit or credit card.
Did you know that you can buy Monero directly with a debit or credit card through Kraken’s new Buy Crypto tool?!https://t.co/YnypdCPFSy
— Monero || #xmr (@monero) January 13, 2021
Monero cryptocurrency (XMR) provides complete anonymity, No one can check the balance and movement of funds on Monero blockchain.
Read: Reasons Behind Polkadot (DOT) Price Making New Highs
It is because of these characteristics that many exchanges began to remove Monero to avoid problems with regulators. In addition, the claims could come from law enforcement agencies, as according to FATF rules cryptocurrency exchanges must know their customers and avoid any possible money laundering and black market money transfers.
Currently, Monero is available on major international exchanges, and some of the exchanges provide a direct purchase service for Monero using a credit or debit card.
Read: Declining Ethereum Reserves On Exchanges-You Know What Happen Next
As for Kraken, its customers must complete Know Your Customer (KYC) to purchase Monero by credit or debit cards.
When withdrawing funds in Monero, the exchange keeps transactions records, amount and address of withdrawals to comply with legal requirements.
Read: SEC Investigator Behind $ 1.3 Billion XRP Lawsuit Resigns
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-
